One of the leading U.S. homebuilding companies,
) recently acquired 278 lots in Santa Clarita in Los Angeles
County, CA. These hillside lots will accommodate two communities,
Canyon Heights and Canyon Crest, built under the Plum Canyon
The company is expected to commence model home construction in
a few months while homebuyers can purchase homes by the end of
the year. Prices of homes start from the high $500,000s.
The residents of Canyon Heights can choose from six one- and
two-story floor plans. The homes can accommodate up to five
bedrooms and five baths. On the other hand, the residents of
Canyon Crest can choose from three two-story floor plans that
accommodate up to six bedrooms with five and a half baths and
three car garages.
Residents of both the communities will also have options to
include an extra bedroom, home office, decks and patio covers,
large walk-in dual closets in the master bedroom, and junior
suites in the first floor. The residents can also avail other
facilities, such as a swimming complex, a recreation center, and
shopping and dining options.
All the homes will offer energy efficient features and Wiser home
management systems, which will help residents save on their
utility bills. The homes will also incorporate WaterSense labeled
faucets and fixtures, which help to conserve natural resources.
Buyers can even opt for solar panels, which help to lower energy
The recent acquisition of the lots will allow the company to
strengthen its offerings in the lucrative market of Southern
California. KB Home has been increasing its land acquisition and
land development activities from the second half of 2012, owing
to the housing market recovery.
As a result, KB Home witnessed a turnaround in order growth in
first-quarter fiscal 2014, after reporting soft order growth for
the past few quarters due to a lack of land and lots. The
homebuilding company mainly focused on high-end locations, which
drove community count and order growth in the recently reported
Another homebuilding company,
D.R. Horton Inc.
), also reported solid order growth in the recently released
second quarter of fiscal 2014.
D R HORTON INC (DHI): Free Stock Analysis
KB HOME (KBH): Free Stock Analysis Report
TOLL BROTHERS (TOL): Free Stock Analysis
WILLIAM LYON HM (WLH): Get Free Report
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KB Home carries a Zacks Rank #3 (Hold).
Other Stocks to Consider
Investors interested in the homebuilding sector can also consider
William Lyon Homes
Toll Brothers Inc.
). While William Lyon sports a Zacks Rank #1 (Strong Buy), Toll
Brothers carries a Zacks Rank #2 (Buy).